It is always best to get into the habit of saving early and especially while still young as this will help you in growing your investments later on in life.
This is the sentiment with which Standard Bank Namibia’s Liabilities Manager Erna Kaura, who is encouraging Namibians to start saving now.
“You may think you want to wait until you are earning more money to start saving, but as you get older, you’ll have to take on more expenses. If you don’t get into the habit of saving and investing towards a sound and stable financial future from the very beginning, you’ll find it very difficult to do it later.” said Kaura in a press statement issued yesterday.
Kaura also urged Standard Bank clients to take control of their finances.
“To take control of your finances, you need to think of the kind of lifestyle you want to lead now, and how you will maintain that lifestyle in the years to come. Work out your short-term (one year), medium-term (three to five years) and long-term (retirement) goals, and then give careful thought to what you need to do now to achieve all of these. Think about your luxury items and entertainment expenses and work out which of those you really need,” added Kaura.